UTV sees Disney/ABC benefit

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India’s UTV Software Communications has seen a major benefit from Walt Disney’s increased investment in the group, with a deal to use ABC News programming for its planned business news channel, UTVi.
Positioned “for the growing business aspirations of a Young India”, UTVi’s collaboration with Disney-ABC International TV would offer audiences a global perspective, UTV said.

In February, Disney agreed to increase its stake in the Indian media group to 32% from around 14% for around US$200 million. It also agreed to invest in UTV’s channel operation holding company, UTV Global Broadcasting, putting in US$30 million for a 15% stake.

CEO Ronnie Screwvala said: “The English Business News segment reflects a huge opportunity. Till date the first mover in the Business television space occupies 80% market share - which to us reflects a tremendous untapped opportunity. With UTV's experience in Content, Business and Broadcasting, and with one of the best teams assembled, we feel extremely excited to enter this space.”

ABC News president David Westin said the group planned to work with UTVi “to create news programs and bulletins combining the expertise of both organizations for the benefit of the growing UTV audiences."


Source: Rapid TV News

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